Imperial Brands in talks to save wholesaler Palmer & Harvey alongside Carlyle and McColl’s founder September 28, 2017 Tobacco giant Imperial Brands confirmed this morning that it is in talks to help save Palmer & Harvey, the UK’s biggest cigarette supplier. In a trading update, Imperial said it was seeking to create a “sustainable future” for P&H, which supplies Tesco and other major retailers. Shares in Imperial dropped 2.3 per cent this morning [...]
McColl’s founder approached by buyout house Carlyle to lead Palmer & Harvey rescue September 26, 2017 Private equity firm The Carlyle Group has invited a co-founder of convenience store McColl’s to take a key role in its rumoured buyout of Palmer & Harvey (P&H), according to Sky News. James Lancaster is reportedly being drafted in to join the grocery wholesaler as its non-executive chairman, in a deal aimed to salvage the [...]
Aldi bags record UK sales growth though profit dips as it plans more UK expansion September 25, 2017 German budget grocer Aldi’s quest for UK domination continues as its sales growth picked up in the UK, though profits dipped in its full-year results due to “continued investment in prices and infrastructure”. The supermarket onslaught continues however, as the firm outlined plans for 70 new supermarkets for 2018 amid its efforts to hit 1,000 [...]
Compass boss Richard Cousins quits after 11 years at the top September 21, 2017 The world’s biggest catering group, Compass, announced this morning that its chief executive Richard Cousins will retire next year. Cousins will step down from his current role in March 2018, and leave the group in September. Chairman Paul Walsh said: “In the past 11 years Richard has transformed Compass into an industry leading organisation that [...]
London businesses suffer the highest level of employee frauds in the UK September 18, 2017 British businesses lost at least £40m last year from frauds perpetrated by their own employees, with London accounting for the largest chunk by far, new data published today has revealed. Losses from employee fraud were highest in the Greater London area covered by the Metropolitan Police, at £7m in 2016/17, according to government figures obtained [...]
Deutsche Bank bags Tesco’s Thomas Nielsen as its new chief digital officer for global transaction banking September 5, 2017 Deutsche Bank has hired Tesco’s chief digital officer, Thomas Nielsen. The German firm said today that Nielsen, as chief digital officer for global transaction banking, will drive its “digitalisation strategy”. At Tesco, Nielsen was responsible for a portfolio of digital platforms, websites and apps, including loyalty programme Clubcard. He previously spent more than 20 years [...]
Focus On Streatham: Where house price growth is nearly 9 per cent year-on-year, twice the London average September 4, 2017 If you have an SW postcode, think of yourself as one of the lucky ones. The average home in south west London now costs over £1m and it’s long been home to some of the most expensive streets in the country. But there is a way to live in an SW postcode without being a [...]
Former Tesco (TSCO) executives set to appear in UK court on fraud charges September 3, 2017 Three former Tesco executives will appear in court tomorrow, charged with fraud relating to the supermarket’s 2014 accounting scandal. The three men were charged by the Serious Fraud Office (SFO) last September, and pleaded not guilty to the charges at a hearing at the beginning of August. Read more: Co-op’s the latest supermarket to drop [...]
Co-op’s the latest supermarket to drop the tampon tax, following Tesco, Waitrose and Morrisons August 28, 2017 Co-op has become the latest supermarket to take a stand on the so-called tampon tax by cutting out the additional cost for customers. It follows similar action taken by Tesco, Waitrose and Morrisons in the past few weeks. Read more: Tampon tax: Morrisons hops on bandwagon to absorb the cost The cost of tampons and [...]
Supermarket wars: Nisa in talks with Co-op after Sainsbury’s exclusivity period ends August 14, 2017 Convenience chain Nisa is in talks with the Co-op after a period of exclusivity regarding a potential takeover offer from Sainsbury’s came to an end. Sainsbury’s has yet to make a formal offer, which would need to be approved by Nisa’s shopkeeper members. However City A.M. understands that Sainsbury’s is waiting for the result of [...]